Mortgages

Mission-driven entities will have priority on 50% of loan pools secured by Home Equity Conversion Mortgages.

Recent efforts to open up homeownership opportunities include a proposed $100 million down-payment-assistance initiative within the Biden Administration's 2024 federal budget request.

Omayra Ujaque faces up to 30 years imprisonment for each bank fraud count and must serve a mandatory two year sentence for aggravated identity theft.

Chase, Wells Fargo both reported increased gain on sale margins in the first quarter over the fourth, a potentially promising indicator for upcoming IMB earnings.

Mixed economic signals left mortgage rates flat over the past seven days, with experts suggesting the end of Federal Reserve policy hikes might be coming as well.

Two professionals who advise servicers on compliance name their key areas of concern.

The company is launching a training course to certify its loan officers on HECM loans.

The new regulations take effect in July and come after the agency issued new equitable housing goals days earlier.

Just under half of respondents in a recent mortgage study said cost of living increases have impacted their ability to make a home loan payment in the past six months.

Average purchase-loan amounts on new applications also increased after a recent pullback, as limited inventory provided little price relief.

The American Bankers Association's latest Credit Conditions Index points to a drop in lending and a rise in loan delinquencies through the second and third quarters.

But overall availability still remained near a 10-year low in March, with government-backed products falling for the third time in four months, the Mortgage Bankers Association found.

Two housing-policy experts whose previous recommendations have been closely followed by the Biden administration are defending the Federal Home Loan Banks, raising the stakes in a debate over whether a major overhaul is needed.

But the deal propels the four-year old buyer of its wholesale origination operation, The Loan Store, into the national spotlight.

Last month saw purchase rate locks increase by 44%, jumping past the 30% average in February, according to Black Knight's report.

But profits more than doubled on the servicing side, according to the Mortgage Bankers Association.

This congressionally mandated mission plays a critical role in funding important projects in communities across the country.

The president of originations at the public company, Phil Shoemaker, will take over as CEO of the acquiring firm.

Affordability constraints have made borrowers who bought properties within the last 12 months increasingly vulnerable to price declines.

The change may decrease the amount of time that a servicer is required to hold a loan on their balance sheet.